But, compared to the 80s, they’re not that steep. The LA Business Journal (no link) reports on the UCLA Anderson Forecast’s latest report:
Senior economist Christopher Thornberg wrote that, adjusted for inflation, a motorist buying 600 gallons of gasoline a year now spends roughly 6 percent of his or her income on fueling up the car. Back in the 1980s, the same amount of gas would have cost 8 to 9 percent of total incomeâ�?��??and that’s without today’s more fuel-efficient vehicles.
Ted Balaker is an award-winning filmmaker, journalist, and founding partner of Korchula Productions, a film and new media production company devoted to making important ideas entertaining.